As of this FDD, how many years of financial statements are included for City Publications?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying balance sheets of CITY PUBLICATIONS FRANCHISE GROUP, INC. as of December 31, 2024, and 2023 and the related statements of operations, shareholders' (deficit), and cash flows for the years ended December 31, 2024, and 2023, and the notes to financial statements.
The financial statements of CITY PUBLICATIONS FRANCHISE GROUP, INC. for the year ended December 31, 2022, were audited by another auditor who expressed an unmodified opinion on those statements on March 15, 2023.
CITY PUBLICATIONS FRANCHISE GROUP, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT) FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2025 FDD)
According to City Publications' 2025 Franchise Disclosure Document, the provided financial statements include an audit report that covers the years 2024 and 2023. Additionally, the financial statements include consolidated statements of changes in shareholders' deficit for the years 2024, 2023, and 2022.
This means that prospective City Publications franchisees can review the company's financial performance over a three-year period. Analyzing these statements can provide insights into the company's financial stability, profitability trends, and overall financial health.
Specifically, the auditor's report offers an independent opinion on the fairness of the financial statements for 2024 and 2023, while the consolidated statements of changes in shareholders' deficit provide a detailed look at how the equity of City Publications has evolved over the three-year period. Reviewing these statements is a standard practice when evaluating a franchise opportunity, as it helps potential franchisees assess the financial risks and rewards associated with investing in the franchise.